LAS VEGAS, Feb. 14, 2020 /PRNewswire/ -- ACV Auctions Inc., the leading dealer-to-dealer, online automotive marketplace, hits the road this weekend to demo new offerings for dealers at the 2020 National Auto Dealers Association Conference in Las Vegas.
Attendees can explore these recent innovations at ACV's booth #4749C:
New Inspection and Report Increases Retail
The ACV Auctions team will be conducting live demos of its industry leading vehicle inspection which is performed on every wholesale and retail vehicle that runs on their platform. Dealers will get a first-hand look at the level of detail and care that goes into every inspection and condition report. Through the recent acquisition of TrueFrame™, ACV now offers a retail inspection product, the True360 Report.
The True360 report increases consumer confidence when buying a used vehicle, and specializes on vehicles that have damage or accident history. The True360 report is included on the dealer's vehicle display page as well as CarFax and AutoCheck. This trusted and transparent report enables the consumer to confidently buy in store or online and often unlocks hundreds of dollars in value of the vehicle.
Leveraging Technology To Fuel Transparency
The team will also be offering a closer look at Virtual Lift™, the company's proprietary, patent-pending imaging tool that captures a high definition image of the undercarriage of the vehicle. This technology innovation solves an industry blindspot and has become an important new addition to the already detailed and transparent ACV Auctions condition report.
ACV Auction's model is one that listens. Recent recommendations from their dealer community have resulted in the two new enhancements to the platform including Advanced Filters, allowing dealers to improve the relevance of their search results, and Run List, which gives dealers the ability to quickly identify, and bid on, in advance the vehicles that best fit their needs.
ACV Auctions' fleet lease inventory continues to expand thanks to relationships with partners such as Credit Union Leasing, Fusion Auto Finance, U.S. Bank and many other national consigners. Buyers can count on ACV Auctions to source late model, low-mileage vehicles. Advanced Filtering and Run List are ensuring that buyers can find the right vehicles for their lots and they can purchase them with confidence due to ACV's industry-leading condition reports. These partnerships and features are helping ACV Auctions deliver on its commitment to offering a robust marketplace of vehicles that dealers can bid on and buy quickly and easily.
"We are thrilled to demonstrate first-hand our product investments, such as True360, Virtual Lift and Run List which all deepen the level of trust, transparency and efficiency we provide," said ACV Auctions CEO George Chamoun. "Thank you to our dealer partners for your feedback and ideas. We look forward to spending time and hearing your thoughts on the future of buying and selling used vehicles."
After a successful Series E fundraise in November 2019 of over $150M, the company has continued its investments in data-driven innovations and technology solutions. ACV Auctions now services territories across the country with a team of over 1,100 employees who include more than 400 Vehicle Condition Inspectors as well as other field sales, operations and corporate roles. Vehicles listed on ACV Auctions are accompanied by comprehensive reports to provide unparalleled insight into each vehicle's condition.
ACV Auctions is inviting dealers to learn more about the new inspections and report offerings at booth #4749C at this weekend's NADA conference. Dealers can stop by for live demos and get further details for attending their private Pit Stop event on Saturday evening, February 15.
About ACV Auctions
ACV is an online, wholesale vehicle marketplace that provides franchise and used-car dealerships a more effective and transparent way of buying and selling wholesale vehicles through 20-minute auctions. Its technology modernizes the entire arc of auction operations, providing third-party inspections, account management, title, and payment processing, arbitration management and transportation. The company strives to be the most trusted source in the industry for dealers to buy and sell wholesale vehicles. To learn more, visit www.acvauctions.com.
Associate Director, Communications
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SOURCE ACV Auctions